# White Pine Capital LLC

> White Pine Capital LLC is an SEC-registered investment advisory firm in Bloomington, MN, registered since 2000, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 108417
- Filed as: WHITE PINE CAPITAL LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bloomington, MN
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108417
- AdvisorCensus page: https://advisorcensus.com/firm/white-pine-capital-llc-bloomington-mn-108417

## Quick answers

**How is White Pine Capital LLC compensated?**
On its Form ADV (Item 5.E, October 2026), White Pine Capital LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**Where is White Pine Capital LLC located?**
White Pine Capital LLC's principal office is in Bloomington, MN, according to its Form ADV.

**Is White Pine Capital LLC registered with the SEC or a state?**
White Pine Capital LLC is an SEC-registered investment advisory firm, registered since 2000. Status as filed: Approved. CRD 108417.

**How much does White Pine Capital LLC manage?**
White Pine Capital LLC reports $430,613,034 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have White Pine Capital LLC's assets and staff changed since 2021?**
In the Form ADV data for White Pine Capital LLC: Regulatory assets under management: $349,279,543 in the October 2021 data and $430,613,034 in the October 2026 data, up 23%. Total employees: 7 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does White Pine Capital LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (70); individuals (other than high net worth individuals) (9); other (5).

**Which custodians does White Pine Capital LLC use?**
White Pine Capital LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does White Pine Capital LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/108417

**Does White Pine Capital LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 31, 2026 says: "WPC generally requires a minimum account size of $1,000,000 . WPC has sole discretion to waive this requirement under various circumstances, such as client’s location, the client's ability to increase his or her investment over time or the client's relationship with WPC."

**What changed in White Pine Capital LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 3 to 4. Regulatory assets under management went from $363,712,505 to $430,613,034 (+18%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> WPC generally requires a minimum account size of $1,000,000 . WPC has sole discretion to waive this requirement under various circumstances, such as client’s location, the client's ability to increase his or her investment over time or the client's relationship with WPC.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $430,613,034
- Discretionary: $430,573,304
- Non-discretionary: $39,730

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 9 | $6,086,666 |
| High net worth individuals | 70 | $328,688,314 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $3,738,648 |
| Charitable organizations | Fewer than 5 | $11,975,361 |
| Other | 5 | $80,124,045 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2000 (26 years)
- Employees: 7 total, 4 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: CA, FL, MN, NH, TX, VA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- whitepinecapital.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $349,279,543 | 7 | April 1, 2021 |
| October 2022 | $404,086,370 | 7 | June 1, 2022 |
| October 2023 | $324,551,982 | 6 | March 31, 2023 |
| October 2024 | $324,842,021 | 6 | September 27, 2024 |
| October 2025 | $363,712,505 | 6 | March 31, 2025 |
| October 2026 | $430,613,034 | 7 | March 31, 2026 |

Regulatory assets under management: $349,279,543 in the October 2021 data and $430,613,034 in the October 2026 data, up 23%.
Total employees: 7 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 3 to 4.
- Regulatory assets under management went from $363,712,505 to $430,613,034 (+18%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. White Pine Capital LLC (CRD 108417): Form ADV filing data as of October 2026.